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Search Results 65 to 102 of about 103 (some duplicates have been removed)
are especially vulnerable this time of year, this year in particular as the fiscal cliff beckons. for many of the unemployed, the cliff is a clear and present danger. unless congress and the president act before the times square ball drops, many on unemployment insurance will be left to fend for themselves. that's because federal extensions of those benefits, currently up to 47 additional weeks in some states would suddenly expire. that would make for an exceptionally unhappy holiday for an estimated two million unemployed americans. >> brown: we take a closer look now at the standoff and stakes involving unemployment benefits. judith conti is the federal advocacy coordinator for the national employment law project, a workers' rights group. and bill beech heads the center for data analysis at the heritage foundation, a conservative think tank. did welcome to both of you. >> thank you. >> pick up first judy conti on what we just heard, why is the amount of long-term unemployment so stubbornly high? >> what's happening now is we're starting to see job creation. we're starting to see less peo
over the fight in the fiscal cliff. americans face crushing tax hikes and severe spending cuts in 27 days if democrats and republicans cannot come together on a deal. by the way, congress breaks for the holidays in ten days. slash that number. in an interview with bloomberg news, the president made it crystal clear he's not about to blink on the issue of tax hikes for the wealthiest americans. >> we'll have to see the rates on the top 2% go up. and we're not going to be able to get a deal without it. >> white house correspondent dan lothian joins us live from washington this morning. very nice to see you, dan. >> good to see you. >> here's the deal. we have republicans pitted against democrats. now we understand there are issues amongst republicans as well. >> that's right. they're in a tough spot here. they don't want to be in left in a position of being blamed for the fiscal cliff. you're seeing a division between house members and senate members. the reason for this is mainly over the 800 billion in new tax revenue. this was part of john boehner and plan. those tea party-backed co
looking at that so-called fiscal cliff that's looming, we're looking at different aspects of it. and today we turn our attention to the alternative minimum tax and the patch that could come from congress if they're able to work out a deal. if they do nothing, this will impact 30 million americans. joining us to discuss is georgetown law's john buckley. thank you for being here. john buckley, let's begin. what is the alternative minimum tax? >> guest: well, in very simple terms, the tax requires you to pay the greater of what you pay under the regular income tax or what you would compute under the minimum tax which has a slightly broader base. it disallows some deductions that would be allowed in the regular tax. in some respects it's very similar to the cap on itemized deductions that's currently being discussed. rather than directly attack preferences and expenditures, it essentially puts an overall cap on the benefit. there's no new ideas in this debate. the cap bears a very strong relationship to how the alternative minimum tax works. >> host: here is the form 6251 from the irs for the
what he does best. campaigning and making speeches about the fiscal cliff. the president never presented a plan until this week . the reception on capitol hill was to say the least chilly. senator mcconle laughed at the proposal when presented to him. joining me is allen west. colonel thank you for being here. [ applause ] what wasyour reaction when you finally saw what the president put on the table? >> i was in complete shock. it has nothing to do with reality. if you look at the president's propose to raise taxs and 50 billion more in stimulus spending and want to extend 99 weekings of unemployment benefits which is it a 30 billion a year . the other thing that troubling is that the president wants his own control of raising the debt ceiling . so i don't think we have a president that is serious about getting the debt under control and deficit and government spending under control especially when you understand that we have ha and post office in trouble. we continue to get closer to the fiscal cliff. i think that the president should take a case study and look at calvin cool
for the apparent delay. here at home, we are just over three weeks away from falling over the so-called fiscal cliff, that combination of tax increases and deep federal spending cuts. nancy cordes reports, the back- and-forecast showed no sign of letting up today 20 white house and republicans in congress. dr reporter: in his saturday weekly address, president obama nignaled he is open to making cuts on programs like medicare agd medicaid if republicans atree to raise tax rates for the rich. fini'm willing to find ways to cing down the cost of health care without hurting seniors and dther americans who depend on it. and i'm willing to make more entitlement spending cuts on top of the $1 trillion in spending duts i signed into law last year. >> reporter: his remarks came one day after house speaker john aehner announced the talks were stalled. >> well, this isn't a progress report because there's no progress to report. >> reporter: his democratic counter-part, nancy pelosi, blamed boehner for the stalemate. >> what they offered in return nas an empty letter, lacking in the fics. 3 dreporter: su
before this fiscal cliff deal. dennis kneale is coming up with tracy byrnes. they have a little tea party talk themselves. diane black will join them. lori: trusting car salesman before they trust their congress people. stay with "markets now." ♪ >> announcer: u never know when, but thieves can steal yourdentity and turn your life upside down. >> hi. >> hi. you knowi can save you 15% today if you open up a charge card account with us. >> you just read my mind. >> announcer: just one little piece of information and they can open bogus accounts, steang your credit, your money and ruining your reputation. that's why you need lilock to relenessly protect what matters most... [beeping.] helping stop crooks before annow you can have the most comprehensive identity theft protection available today... lifelock ultimate. so for protection you just can't get anywhere else, get lifelock ultimate. >> i didn't know how serious identity theft was until i lost mcredit and eventually i lost my home. >> announcer: credit monitoring is not enough, because it tells you after the fact, sometimes as much as
's the latest on the congress and particularly on the fiscal cliff front. jake, good to have you back. >> thank for having me. >> stan colander a good friend frequent guest. we call him "the budget guy." with the job numbers coming up a little later in the hour we want stan standing buy. >> did you say an army of operators? is that what dick army is doing? i was wondering. >> he made the million dollar pay out. >> 8 markos moulitsas. >> dick army leaving freedom works be, jim demint leaveing the senate. >> it's been a tough month for republican leaders. >> it has indeed. it was a tough day yesterday for mitch mcconnell in the u.s. senate. i don't know whether you heard. he ended up filibustering his own bill yesterday which was pretty embarrassing for mitch mcconnell. he had to take the insults from harry reid who said the republicans are like clueless or like without a rudder or maybe without at quarterback. here is harry reid showing some spots knowledge here. >> now to the new york jets coach ryan he's got a problem. he has three quarterbacks. sanchez
it matters to your point what happens with the fiscal cliff. the economy is at stalemate. unemployment, we look at jobs report tomorrow, is dismal. we're liking inflationary environment down the road. this is bad news. >> you could could make the argument invite blowing past short term helpful, long term payne full. melissa: spending cuts, tax hikes are very dramatic going over the cliff. when you look at numbers, still is like five to one raising taxes to cutting spending. >> that's right. melissa: no one is really talking about cutting spending. isn't that the first thing you would do? if your fiscal house was in such disarray, household at home, first thing you do is stop spending. no one is doing that. >> what scares me, is that point. whether you agree or disagree hiking taxes i am not a fan of it but i think it will come. we can get past this. charlie gasparino and i have argued this. one of the consequences of the election the president will probably get his way raising most rates. melissa: right. >> i'm not saying i'm a fan. let's get past that, let's make it happen. republicans re
is just -- well, they went off their own sports cliff. let's put it that way. it may seem like fiscal fears are subsiding, but you must still be a little cautious. i'm optimistic for legislation if congress doesn't take a vacation, and until compromise is made, i'll try to spot some winners that are bounce-backers, if you stay with us, no vacation, congresspeople and president, until legislation. the new mantra. besides -- rise above. having you ship my gifts couldn't be easier. well, having a ton of locations doesn't hurt. and a santa to boot! [ chuckles ] right, baby. oh, sir. that is a customer. oh...sorry about that. [ male announcer ] break from the holiday stress. fedex office. we don't let frequent heartburn come between us and what we love. so if you're one of them people who gets heartburn and then treats day after day... block the acid with prilosec otc and don't get heartburn in the first place! [ male announcer ] one pill each mog. 24 hours. zero heartburn. >>> novelty, is overrated. at least when you're managing your own money. you don't need to constantly come up with ne
if these tax extenders have to be dealt with by the end of the year and in the fiscal cliff negotiations, what are the options for congress right now? on december, what is it, 6 today? guest: to be honest, these are kind of an after thought at this point because often as i said just all of these are extended for a year or two at a time. they talk about trying to make the list shorter but if they have to, if it's like december 29 and they need to pass something, all they have to do is pass everything for a year and it won't cost so much. but get to this after they figure out the bigger question. host: but they can do it in one bill? they can say tax extenders and list the different -- guest: exactly. it will go in the big fiscal compromise and you won't a lot about it unless someone says, wait, they passed a reduction deal and they probably will. tax ex tenders were the in the tarp, the financial bailout. so they usually get snuck into these big billless. host: right now what's the status of these so-called tax extenders? guest: so the finance committee, the senate finance committee passed a bi
cliff. right now there are only 25 shopping days left for congress and the president to negotiate a deal. our next guest says that could be a problem because the president has yet to learn the art of making a deal. joining us is "wall street journal" columnist daniel henninger. good morning to you. >> how are you doing? >> steve: you asked the question in your most recent column, where in his career did barak obama ever learn the art of a political deal? the answer is? >> nowhere. nowhere that i can see, steve. i mean, we're all sitting there watching this perils of pauline running along the cliff and wondering why they can't do a deal. and it struck any^ if you look back through the first term, where did barak obama strike any deal with the republicans? the biggest opportunity was when they were enacting the entitlement, affordable care act, obamacare, rolled back to the 1960s when lyndon johnson was enacting medicare and medicaid and he negotiated with republicans and he had republican support. barak obama got zero votes for obamacare and that's unprecedented. then you come to the summ
to avoid a fiscal cliff. to your point, you recently said, even if we reach a deal, the economy is still at series risk of a recession. >> that is right. we are looking at and economy that is very weak. growth was very disappointed. less than 2% real gdp growth in 2012. we will be struggling to achieve that next year, even without hitting the economy with more fiscal bad news. if we go over the cliff, it is really a major downturn. uncertainty remains about what is coming next. put that all together and we could certainly be put on the edge of a recession. lori: that manufacturing number coming in the low 50s, singling contraction. is that the first signal that this economy really is in trouble? >> certainly not the first signal. household earnings down. real disposable personal income has not increased since may. we are really looking at an economy that is weak. ooly thing keeping keeping consumer spending going is that households have been prepared to cut back on their savings rate to such a low level that i do not think there is more room or that in 2013. lori: there are bright spots
a fallback plan for the so called "fiscal cliff", which includes extending tax cuts for the middle class and resuming a fight over spending and taxes for the wealthy later. meanwhile, going overseas, nato makes a move on the turkish border with syria. military officials deny preparations for military intervention. protesters in egypt march on the palace as mohamed morsi flees. international and domestic news is all on the table for you this morning as we open up the phone lines. also, send us a tweet. or post your comment on facebook. or send us an e-mail. we will get back to that new york times story. first, some other headlines on the domestic front. here is the "washington times." also, sticking with the senate, the baltimore sun reporting this headline -- in politics, here is the denver post -- open phones before the first 30 minutes. we have a short show because the house is coming in at 9:00. steve in gaithersburg, maryland, a republican caller. caller: host: when did the republican party become the party that restricts poor? i understand the tax cut for the rich is important to so
sports cliff. let's just put it that way. it may seem like fiscal fears are subsiding, but you must still be a little cautious here. i'm optimistic for legislation if congress doesn't take a vacation, and until compromise is made, i'll try to spot some winners that are bounce-backers, if you stay with us, no vacation, congresspeople and president, until legislation. the new mantra. besides rise above. >>> he's counting down the top stocks to play ahead of 2013. break out the party hats and stick around to find out how you can have yourself a very well see new year. and later, if the shoe fits? fashionable footwear maker deckers surged on the street today. the stock is still well off its highs but is today's move your signal to slip back into its shares? kremer is trying it on for size, just ahead, all coming up on that money. >> don't miss a second of mad money. followed jim kramer on twitter. have a question, tweet kramer hashtag mad tweet. send g-men e-mail to mad money at sea nbc got, or give us a call at 1-800-743-c nbc. miss something? had to mad money got see nbc.com. >>> novelty is
hostage by the fiscal cliff. how much pressure does this additional pressure put on republicans, seeing chris christie show up at the white house knowing that he needs money for his hard-hit state? >> it's a tremendous amount of pressure. part of what the strategy of think of what we're see hearing is the republicans are becoming increasingly isolated. you think about the discharge position. essentially even if they don't sign on to it, the point is they're going to own this mess. they're the ones who are seen to be, as the public suggests, not willing to make a deal. it is not unreasonable. we've all seen those horrifying images from the devastation of hurricane sandy. it's not unreasonable the governor of the state of new jersey would come and say i need help. americans are going to see that. they see the republicans becoming increasingly sort of isolated and, again, it becomes this question of why are you holding the rest of us hostage for the top 2%? so the problem for the republicans is they don't have a lot of good options at this point to get themselves out of this corner. >> our
the fiscal cliff despite knowing that deadline was looming, the president never presented a plan until this week and the reception on capitol hill was, to say the least, chilly. senator mcconnell even laughed at the proposal when it was presented to him. joining me now, florida congressman allen west. colonel, thanks so much for being here. >> thanks, thanks for having me, dana. [applause]. >> what was your reaction when you finally saw what the president was putting on the table? >> well, i was in complete shock because it really has nothing to do with reality. when you look at the president's proposal to raise 1.6 trillion in new taxes, he wants 50 billion more in stimulus spending, he continues to want to extend the 99 weeks of unemployment benefits which will be another 30 billion per year and also, the other thing that was very troubling was that the president wants his own control of raising the debt ceiling. so, i don't think we have a president that is serious about getting our debt under control and getting our deficit, which the federal government spending under control, espe
and the president fail to reach an agreement before the fiscal cliff deadline at the end of the month. for airline passengers, the triggered automatic cuts could also affect your travel plans. here is cnn's sandra endow. >> reporter: this is air travel now. cut that by a billion dollars and it could ground millions of travelers. >> in the 56 years of the faa's history, there's not been anything as threatening as sequestration. >> reporter: aerospace industries association paints a doomsday scenario. 250 small airports may have to close and 1,500 air traffic controllers laid off. former faa administrator heads the lobby group. >> faa is not one of those places that if you are looking for smart cuts you would go. it's an operational agency. it's a safety agency. and you sure don't want to see cuts made there, because it really does force us to look at the fact that we could see our system become a much diminished system, operating on the kind of schedules you're used to in the third world, not here in the country. >> reporter: she says 9,000 tsa screeners could also get pink slips. >> we've made a n
of this will depend on what we get this week on fiscal cliff negotiations. risk appetite is really be holden to that at the moment. and the reality is we're more likely to see congress delay another week or two before they really get going on the negotiations just before christmas. and so against that kind of backdrop, euro-dollar may struggle to break higher and definitely to break lieuthrough 1.31. >> adam, you're in washington. how do you view fiscal cliff discussions? >> i was pretty optimistic until about three days ago. my sense was republicans had lost enough ground, they wanted to get a new deal before they got weaker. they admitted that there has to be some revenue. meanwhile the obama team led by secretary geithner are comfortable with at least 2:1 what they would call entitlement cuts. so there was a lot of ground for a deal. unfortunately, i think the threats from some democratic leaders that maybe it's okay to go over the fiscal cliff, i'm worried some actually believe that and that's one thing that scares me. i think there's a deal on the table, get a few years deal, it's only
to you guys. >> all right. thank you so much, steve liesman. we have breaking news on the fiscal cliff negotiations. john harwood with the details. over to you, john. >> maria, just wanted to bring you up to date on a development, which is the resumption of some staff level discussions between the congress, the speaker's office in particular, and the white house. we've been through a period where both sides, the principa s principals, the speaker and president have been striking tough lines in public, having made some initial moves towards cooperation, but word followed up no more meetings scheduled between the principals. wasn't that much going on staff to staff. that's changed today from yesterday. to you have some discussions resumed. i don't want to overplay the significance, but it is an encouraging sign for people who think that the ice had been beginning to crack around some of the positions, especially with the republicans on taxes. we may be looking for some forward movement. got to watch over the next day or so. >> this is good news, john. >> it is good news. it is an indicat
his plan to avert the fiscal cliff. at the home of what the white house called a typical middle class family, mr. obama said he's optimistic that agreement can be reached, but again drew a hard line for republicans in congress. >> everybody's is going to have to share in some sacrifice. but it starts with folks who are in the best position to sacrifice. who are in the best position to step up . just to be clear i'm not going to sign any package that somehow prevents the top rate from going up, the top 2% from going up. >> woodruff: the president phoned house speaker john boehner yesterday, their first direct talk in almost a week. but today white house spokesman jay carney wouldn't share details of the call. >> we believe it's in the interest of achieving an agreement not to do that. >> reporter: treasury secretary timothy geithner said yesterday the white house was absolutely willing to go over the cliff if republicans held firm in their opposition to raising rates on the wealthy. but it was the administration's other demand-- to give the president authority over the nation's debt ce
to the edge of the fiscal cliff, and if the president doesn't like the republican's plan he has an obligation to send them one that can pass both houses of congress as quickly as possible. what is the middle ground here? >> well, they are nowhere near the middle ground. a lot of posturing going on. i think you'll see that for at least another week or two. the sticking point is, it's tax rates, and speaker john boehner was asked a question of whether he could be flexible on that. he really didn't indicate he was going to do that. democrats say fresh off their election win he must do that. maybe it's not 250,000, maybe it's higher where they protect sphaupl businesses between 250,000 or 750,000 and a million. there has to be some type of compromise. if republicans are going to go for tax rate increases they'll have to get significant returns as far as the entitlement reforms. that is the rub right there. >> reporter: let's talk a little bit more about entitlement reforms. as it stands right now the president's plan calls for 1.6 trillion in tax increases and roughly doubles what was previously
broadly described under the umbrella of the terminology, fiscal cliff. when we confront those difficult challenges, we have to ask ourselves a couple of basic questions. one of the basic questions we must ask is, what will be the result and will be the impact as it relates to middle income families? what will happen to them in the midst of all these tough issues we have to work out? we know there is broad agreement that going over the so-called fiscal cliff would jeopardize the economic recovery. it would do that by increasing taxes on families, halting employment growth, driving unemployment up instead of down, triggering a deep cuts to programs that families across the country count on. the job before the united states congress is to reach an agreement that builds on the economic progress that we are making, and puts us on a path to fiscal stability. we need to cut more spending, and generate more revenue. we need to do it in a smart way that keeps our economy growing. earlier this year, congress extended the payroll tax cut through 2012. the two percentage point payroll tax cut has p
the umbrella of the terminology, fiscal cliff -- when we confront those difficult challenges, we have to ask ourselves a couple of basic questions. one of the basic questions we must ask is, what will be the result and will be the impact as it relates to middle income families? what will happen to them in the midst of all these tough issues we have to work out? we know there is broad agreement that going over the so-called fiscal cliff would jeopardize the economic recovery. it would do that by increasing taxes on families, halting employment growth, driving unemployment up instead of down, triggering a deep cuts to programs that families across the country count on. the job before the united states congress is to reach an agreement that builds on the economic progress that we are making, and puts us on a path to fiscal stability. we need to cut more spending, and generate more revenue. we need to do it in a smart way that keeps our economy growing. earlier this year, congress extended the payroll tax cut through 2012. the two percentage point payroll tax cut has played an important role to
home for the weekend. the break comes with 26 days to go until the fiscal cliff deadline and after president obama and house speaker john boehner spoke again by phone but failed to reach a deal. boehner says revenues can be on the table just not in the form of tax hikes on the rich. treasury secretary timothy geithner says that just won't work. >> there's no point to an agreement that involve the rates going up on the top 2% of the wealthy. it's only 2%. >> geithner went on to say that he's fully prepared. the obama administration is fully prepared to go off that fiscal cliff if republicans don't agree to tax hikes on the wealthiest americans. let's bring in congressional correspondent kate bolduan. the white house won't budge on taxes. the republican led house takes a break. can you make sense of this for us? >> i think that's a little above any of our pay grade trying to make sense of it all other than it seems that it's one more fight that we've seen over and over again and we are seeing once again it play out almost as it appears slow motion, carol. you mention the call between
's the headline. we know that -- we've been talking about the fiscal cliff, in nearly a month, we'll get over it, but really it's nine days, because everybody is supposed to break in just nine days. do you think everybody in congress fully understands just how frustrated and annoyed the american public is on this, seeing everybody go off, you know, to their home states for the weekend while this looms for the rest of us? >> well, certainly when i was home in oregon, i heard about it from everyone and every meeting. there is an expectation that we come together with these big national issues and address them. right now, what we have is a very unspecified proposal from the republicans, just basically saying we'll find revenues somewhere, we'll find -- cut programs somewhere. meanwhile, we'll be very specific about cutting medicare and social security. that's an extremely unacceptable response to the president's initial proposal and quite frankly, it's not acceptable that this game of chicken continue right on down the road. the needs will be very specific in negotiations, if they need to keep them
planning his next move after confronting a fiscal cliff. "the los angeles times" says the administration will begin an all-out drive for major immigration reform next year but the white house deciding whether to send legislation to congress or let lawmakers take the lead. more to come. >>> members of congress are stepping in to help new yorkers clean up from hurricane sandy. politicians from as far away as georgia travel to staten island to help local congressman michael grimm help his residents. hurricane sandy struck more than a month ago. and during the height of the gift-giving season a new website is outlining the weirdest gifts president obama has gotten. on the list, 50 pairs of boxer briefs from david beckham's line, a donkey from a cluster bomb -- colombian town. but the strangest thing? insurance against crocodile attacks. it came from an australian official. >>> still to come, the supreme court ready to weigh in on same-sex marriage. what a decision could do to politics surrounding this hot-button issue. the truth about mascara is... it clumps. introducing a revolutionary new
a dozen governors are headed to the white house to talk about the fiscal cliff. they will tell the president that failing to come to an agreement will leave the states with the bill. after that they'll be going on to meet with some of the leaders in congress to make their same points there and we'll see what happens out of this. the markets have been watching just about every headline and trying to see what happens on this physical cliff issue. the "doubt" futures are up about 21 points. yesterday, though, we saw the markets close at the lows of the day. the dow down about 60 points on some of these concerns that, again, all of these issues still have quite aways to go before they reach any sort of deal. >>> overseas in asia you can see that the markets there, there were some marginal gains when you look at the hang seng. and the shanghai was up by 0.8, and in korea, it was down. and in europe, the green arrows, and the biggest gains in france with the cac up 0.75%. >>> facebook looks to grow its mobile business. julia boorstin has the news and what it means for the social netw
Search Results 65 to 102 of about 103 (some duplicates have been removed)